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CCC § 1695 applies to owners residing in the foreclosure..

Posted by Ward-CA- on July 03, 2003 at 10:55 PM

In Reply to: equity purchase agreement after divorse posted by Kathy on July 01, 2003 at 6:27 PM

: Hello -

: We are interested in buying a home (for sale by owner, no realtors involved) as investement property in CA.

: We just found out the the trustors got divorced several years ago (title still in both names), NOD filed, wife filed BK (currently in Ch 13, want to change to Ch 7 to sell the house).

: We are planning on filling out the equity purchase agreement (because of the NOD) and then entering into escrow. Do both the wife and ex-husband need to sign the equity purchase agreement? or just the wife?

: We do know that the ex-husband will ultimately need to sign off on the house.

: Thanks,

: Kathy
-=-=-=-=-=-=-=-=-=-=-=-=

Kathy,

Whoever is on title AND lives in the foreclosure property comes under the protection of CCC §1695 and all of its requirements.

Hope this helps.


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